New Toyo

[greengiraffe]

Earnings are out, you'll see the market reaction tomorrow. Instead of praying for takeovers or special dividends, look at more actual results.

Q2 revenue up 9% to 72million
Operating profit up 4.4% to 8.65million
Profit from continuing operations down 26.9% to 6.35million, mainly due to decrease in share from associates (SAH).

Dividends, unfortunately, is reduced, to 0.80cents per share.

Kinda expected, SAH only issued dividends this quarter, and New Toyo has not received it, why would they issue special dividends? If any, will probably come in the next quarter or end year, unless the management does what it says "The Group will actively seek opportunities to replace this profit contribution from SAH"

Just do a quick check on its 1st half result, with 0.8cents dividend, it is only 18.4% payout of Free Cash Flow and 51% payout of net profit.... it has more cash to retain 0.97cents dividend even increase... weird.. they should know this definitely will (maybe) trigger major selling with the dividend cut...

Probably they want give us the chance of accumulate more at the lower price. lol....

Hopefully Q3 will be better with the dividend from Tien Wah and SAH.

(Vested)

I think you are saying that cashflow (rather than earnings) will improve in Q3 after receiving dividends from Tien Wah and SAH...